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Grassley to hold drug pricing hearing

Grassley to hold drug pricing hearing
© Stefani Reynolds

The Senate Finance Committee's first hearing of the year will focus on prescription drug prices, panel chairman Sen. Chuck GrassleyCharles (Chuck) Ernest GrassleyOn The Money: Power players play chess match on COVID-19 aid | Pelosi bullish, Trump tempers optimism | Analysis: Nearly 1M have run out of jobless benefits Grassley: Voters should be skeptical of Biden's pledge to not raise middle class taxes GOP to Trump: Focus on policy MORE (R-Iowa) announced Tuesday.

The Jan. 29 hearing "will be the first in a series of hearings scrutinizing prescription drug pricing and considering policy and oversight solutions to lower costs for American patients," Grassley said in a statement Tuesday.

"We already know what the problem is. It’s time to look at bipartisan solutions and work to turn them into law,” he added.

The Senate hearing will be the same day the Democratic-led House Oversight and Reform Committee holds the first of its own drug pricing hearings.

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The two hearings on the same day shows the bipartisan nature of the concern over rising drug prices.

Grassley and House Oversight and Reform Committee Chairman Elijah CummingsElijah Eugene Cummings'Kamala' and 'Kobe' surge in popularity among baby names Women of color flex political might Black GOP candidate accuses Behar of wearing black face in heated interview MORE (D-Md.) have made rising drug prices a central concern.

Grassley is largely seen as a dogged investigator who backs free-market principles, and is not seen as an ally of the pharmaceutical industry.

He is also willing to work with Democrats. In September he teamed up with Sen. Dick DurbinRichard (Dick) Joseph DurbinMcConnell tees up Barrett nomination, setting up rare weekend session Bipartisan group of senators call on Trump to sanction Russia over Navalny poisoning Republicans advance Barrett's Supreme Court nomination after Democrats boycott committee vote MORE (D-Ill.) to legislate that television advertisements for drugs be accompanied by price disclosures. The measure was ultimately blocked by House Republicans.

Earlier this month, Grassley laid out his priorities for drug pricing action, including legislation with Sen. Amy KlobucharAmy KlobucharStart focusing on veterans' health before they enlist Durbin says he will run for No. 2 spot if Dems win Senate majority Democrats seem unlikely to move against Feinstein MORE (D-Minn.) that would allow patients to import prescription drugs from Canada.

He has also expressed support for much of President TrumpDonald John TrumpIvanka Trump, Jared Kusher's lawyer threatens to sue Lincoln Project over Times Square billboards Facebook, Twitter CEOs to testify before Senate Judiciary Committee on Nov. 17 Sanders hits back at Trump's attack on 'socialized medicine' MORE's drug pricing agenda.